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    6594   JP3734800000

NIDEC CORPORATION

(6594)
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Nidec, Foxconn Mull Joint Venture to Sell EV Traction Motors

07/21/2021 | 01:47am EDT

By Kosaku Narioka

Nidec Corp. said Wednesday that it would consider setting up a joint venture with Foxconn Technology Group to develop and sell traction motor systems for electric vehicles.

The Japanese electric-motor maker said the joint venture would be established in Taiwan by 2022 and the parties aim to reach an agreement by the end of December.

Nidec said a joint venture with Foxconn would be an important way through which to sell its motors to new players in the auto industry and meet its goal of producing 10 million units of traction motors in 2030.

Taiwan's Foxconn has been teaming up with other companies such as Fisker Inc. and Stellantis NV to expand its car-related business.

Write to Kosaku Narioka at kosaku.narioka@wsj.com

(END) Dow Jones Newswires

07-21-21 0347ET

Stocks mentioned in the article
ChangeLast1st jan.
HON HAI PRECISION INDUSTRY CO., LTD. -0.47% 106.5 End-of-day quote.15.76%
NIDEC CORPORATION -2.88% 12960 End-of-day quote.-0.15%
All news about NIDEC CORPORATION
09/01NIDEC : Notice Regarding the Status of Own Share Repurchase
PU
09/01NIDEC : Announces the Status of Own Share Repurchase
AQ
08/02NIDEC : Completes the Acquisitions of Stock, Etc. of Mitsubishi Heavy Industries Machine T..
AQ
08/02NIDEC : Notice Regarding the Status of Own Share Repurchase
PU
08/02NIDEC : Announces the Status of Own Share Repurchase
AQ
07/26Nikkei tracks global peers higher, but virus woes undermine mood
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07/25Japanese shares track global peers higher, but virus woes cap gains
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07/22HON HAI PRECISION INDUSTRY : Foxconn in Talks to Form Electric Vehicle Drive System JV Wit..
MT
07/21Nidec Corporation Provides Earnings Guidance for the Second Quarter Ending September 30..
CI
07/21Nidec Corporation Provides Dividend Guidance for the Second Quarter Ending September 20..
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More news
Analyst Recommendations on NIDEC CORPORATION
More recommendations
Financials
Sales 2022 1 805 B 16 348 M 16 348 M
Net income 2022 152 B 1 372 M 1 372 M
Net Debt 2022 344 B 3 111 M 3 111 M
P/E ratio 2022 50,1x
Yield 2022 0,50%
Capitalization 7 586 B 68 856 M 68 691 M
EV / Sales 2022 4,39x
EV / Sales 2023 3,99x
Nbr of Employees 112 551
Free-Float 84,5%
Chart NIDEC CORPORATION
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Technical analysis trends NIDEC CORPORATION
Short TermMid-TermLong Term
TrendsNeutralNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 19
Last Close Price 12 960,00 JPY
Average target price 15 216,67 JPY
Spread / Average Target 17,4%
EPS Revisions
Managers and Directors
Shigenobu Nagamori Chairman & Chief Executive Officer
Jun Seki Executive President, COO & Representative Director
Takayuki Sakurai Co-Chief Financial Officer & Executive Officer
Hidetoshi Yokota Co-CFO, Head-Investor Relations & Accounting
Mikio Katayama Chief Technology Officer & Executive VP
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